HDFC Securities is bullish on Dilip Buildcon has recommended buy rating on the stock with a target price of Rs 833 in its research report dated February 09, 2019.
HDFC Securities' research report on Dilip Buildcon
DBL posted strong 3QFY19 Rev/EBITDA/APAT of Rs 24.9/4.4/2.1bn (+6/7/14% beat) despite only ~Rs. 100bn of the order book effectively being under execution. EBIDTA margins came in line at 17.7%. With 80-IA projects still contributing significantly, DBL reported a 6% effective tax rate.
We maintain BUY with reduced TP of Rs 833/sh (13.5x Dec-20E EPS and BOT at 1x equity invested).
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